Welcome to our dedicated page for Middlesex Watr news (Ticker: MSEX), a resource for investors and traders seeking the latest updates and insights on Middlesex Watr stock.
Middlesex Water Company (NASDAQ: MSEX) is an investor-owned water and wastewater utility serving customers in New Jersey, Delaware and Pennsylvania. This news page aggregates company announcements, earnings releases and other updates that help investors and observers follow developments affecting MSEX stock and the company’s regulated and non-regulated operations.
Readers can find coverage of quarterly and year-to-date earnings results, including details on operating revenues, expenses and segment performance as reported in company press releases and related Form 8-K filings. Middlesex Water regularly reports on capital investment levels in its water and wastewater infrastructure, highlighting spending to upgrade, replace and enhance the resiliency of treatment facilities, distribution mains and related assets.
News items also include regulatory and rate case developments, such as petitions to the New Jersey Board of Public Utilities and the Delaware Public Service Commission for base rate changes and distribution system improvement charges. These updates provide context on how the company seeks to recover prudently incurred investments and support safe and reliable service.
Investors can track dividend declarations and increases, including information on the company’s long history of paying cash dividends and its multi-decade record of annual dividend growth. Additional coverage may feature participation in industry conferences, board and governance updates and selective acquisitions of water utility assets that align with the company’s selective and sustainable growth pillar.
For anyone monitoring MSEX news, this page offers a centralized view of the company’s financial disclosures, regulatory milestones, infrastructure initiatives and corporate actions, helping users understand how these events relate to Middlesex Water’s long-term strategy and utility operations.
Middlesex Water Company (Nasdaq:MSEX) has appointed Gregory Sorensen as Vice President and Chief Operating Officer, effective December 16, 2024. Sorensen, formerly President of West Region at Liberty Utilities, brings extensive utility experience managing operations across the U.S. and Chile. In his previous role, he led 800 professionals serving 440,000 customers with regulated utility revenue exceeding $400 million. In his new position, Sorensen will oversee operational performance, engineering functions, capital program planning, water and wastewater operations, safety, environmental compliance, and sustainability initiatives.
Middlesex Water Company (NASDAQ:MSEX) reported strong Q3 2024 financial results with diluted earnings per share of $0.80, up 42.9% year-over-year. Net income reached $14.3 million, increasing by $4.3 million compared to 2023. Quarterly revenues grew by $8.4 million to $55.1 million, driven by NJBPU-approved base rate increases and increased customer demand. The company increased its quarterly dividend by 4.62% to $0.34 per share. Operations and maintenance expenses rose by $2.8 million due to increased legal costs, enhanced water treatment processes, and higher labor and energy costs.
Middlesex Water Company (NASDAQ: MSEX) has announced a 4.62% increase in its quarterly cash dividend to $0.34 per share from $0.325, raising the annual dividend rate to $1.36 from $1.30. This marks the company's 52nd consecutive year of dividend increases. The dividend is payable on December 2, 2024, to shareholders of record as of November 15, 2024. The company, which provides regulated and unregulated water and wastewater utility services in New Jersey and Delaware, has maintained continuous dividend payments since 1912.
Middlesex Water Company (NASDAQ:MSEX), a provider of water, wastewater and related utility services, has announced plans to release its financial results for the third quarter ended September 30, 2024. The company will disclose these results on October 31, 2024, after the market closes. Investors and interested parties will be able to access the press release and the company's 10-Q filing in the Investors section of the Middlesex Water Company website. This announcement provides shareholders and potential investors with a specific date to anticipate the company's latest financial performance data.
Middlesex Water Company (Nasdaq:MSEX) has announced the retirement of Bernadette M. Sohler, Vice President of Corporate Affairs, effective December 31, 2024. Sohler, who joined the company in 1994, has been a key member of the executive leadership team since 2007. Her 30-year career at Middlesex included overseeing corporate communications, branding initiatives, digital media, community engagement, investor and media relations, and sustainability reporting.
As part of the company's succession planning and organizational realignment, Jennifer Ketschke has been hired as investor relations director, reporting to CFO Rally Zerhouni. Summer DeFeo, Director of Communications, will continue to support other corporate affairs activities.
Middlesex Water Company (NASDAQ:MSEX) has been named a finalist in Ragan's PR Daily Awards, a prestigious recognition platform for the communications industry. The company is being recognized in the Video: Single Use category for its employee onboarding video, which introduces new employees to the company's culture, mission, vision, values, and commitment to service and safety.
Bernadette Sohler, Vice President of Corporate Affairs at Middlesex Water, highlighted that the video was a strategic collaboration between Communications and Human Resources. The goal was to create content that helps employees feel informed, supported, and understand their role in delivering essential water services.
The winners will be announced at the PR Daily Awards Luncheon on December 11, 2024, at the City Winery in New York City. This event will bring together top communications professionals to celebrate the year's accomplishments.
Middlesex Water Company (NASDAQ:MSEX) has announced that its Vice President of Enterprise Engineering, G. Christian Andreasen, Jr. P.E., will be speaking at the Second Annual Gabelli Funds PFAS Symposium on September 26 at 2:30 pm (ET) at the Harvard Club in New York City. The event will bring together experts, policymakers, and industry executives to discuss critical issues related to PFAS (Per- and Polyfluoroalkyl substances).
The conference aims to address the environmental and public health challenges posed by PFAS, their persistence in the environment, and effective treatment technologies. Andreasen, with over 40 years of experience in water and wastewater utility operations, oversees capital program project development, delivery, and asset management initiatives at Middlesex Water.
Nadine Leslie, President and CEO of Middlesex Water, highlighted Andreasen's leadership in cultivating expertise and solutions for treating PFAS in groundwater in New Jersey, positioning the company to respond to stricter EPA regulations and serve as a resource for local municipalities.
Middlesex Water Company (MSEX) has announced its participation in the 4th Annual Virtual Water Utilities Conference hosted by Janney Montgomery Scott on September 19, 2024. CEO Nadine Leslie and CFO Rally Zerhouni will provide a company update at 1:00 p.m. ET.
The virtual conference, moderated by Michael Gaugler, Janney Senior Analyst and Managing Director of Utility & Infrastructure, will feature a live presentation and webcast. Investors can access the event in real-time or view a replay at https://wsw.com/webcast/jms13/msex/1693846 or on the company's website under the Investors section. The presentation will remain available for 90 days following the event.
Middlesex Water Company (NASDAQ:MSEX) has announced that its Vice President, General Counsel and Secretary, Jay L. Kooper, has been named a finalist in the 2024 New Jersey Legal Awards, sponsored by the New Jersey Law Journal. Kooper is a finalist in the In-House Impact awards category. The winners will be announced on October 29, 2024 at Park Chateau Estate in East Brunswick, New Jersey.
Kooper, appointed to his current role in March 2014, serves on the Board of Directors of the National Association of Water Companies (NAWC) and chairs NAWC's New Jersey Chapter. He also serves on the Board of Consultors of the New Jersey State Bar Association's Public Utility Law Section and is a Past Chair of the Section. Middlesex Water Company President and CEO Nadine Leslie praised Kooper's expertise in navigating legal and regulatory matters for the company and his leadership within the water and wastewater industry.
Tidewater Utilities, a subsidiary of Middlesex Water Company (Nasdaq:MSEX), has filed for a rate adjustment with the Delaware Public Service Commission. This is the company's first request for a rate change in over a decade, aimed at recovering $150 million invested in critical drinking water infrastructure improvements. The investments include:
- Construction of two 1,000,000-gallon elevated water storage tanks
- Upgrades to treatment plants
- Installation of interconnections for redundant capacity
- Addition of backup generation at 30+ facilities
- Water main realignments and hydrant installations
Tidewater is seeking a total annual revenue increase of $10.3 million. If approved, the average residential customer's bill would increase by about $13.97 per month.
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